Ferroglobe PLC (NASDAQ:GSM) to Issue Dividend Increase – $0.01 Per Share

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Thursday, March 20th will be paid a dividend of 0.014 per share by the basic materials company on Wednesday, March 26th. This represents a $0.06 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a dividend payout ratio of 8.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.62 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.1%.

Ferroglobe Price Performance

Shares of NASDAQ GSM opened at $3.63 on Friday. The company has a 50 day simple moving average of $3.94 and a two-hundred day simple moving average of $4.23. Ferroglobe has a fifty-two week low of $3.63 and a fifty-two week high of $6.19. The company has a market capitalization of $682.00 million, a price-to-earnings ratio of 181.50 and a beta of 1.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. The company had revenue of $367.51 million for the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a return on equity of 6.24% and a net margin of 0.32%. Analysts expect that Ferroglobe will post 0.49 EPS for the current fiscal year.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.